Stamp Investment Tip: French Southern and Antarctic Territories 1968 WHO (Scott #31)

Four countries claim territory in the Antarctic and issue stamps for their territories. They are Australia (Australian Antarctic Territory), Great Britain (British Antarctic Territory), New Zealand (the Ross Dependency), and France (the French Southern and Antarctic Territories). Of these, the French territory, also known as French Antarctic and abbreviated as F.S.A.T. or T.A.A.F., is of most interest to philatelists, because most of the F.S.A.T. stamps were issued in modest quantities and many are beautifully engraved. Most stamps issued for the various Antarctic territories are sold to collectors, as only a few hundred scientists reside in research facilities in the Antarctic.

In 1968, the F.S.A.T. issued a set of a stamp honoring the World Health Organization (Scott #31).39,000 were issued, and Scott '14 prices it unused at $65.- .

Demand for stamps of the French Antarctic is strong in France and among collectors of French Colonies/Area, and this has obvious topical appeal as both a U.N. and Medicine Topical.

I continue to like the U.N. as a topic, long-term. The market for U.N.-related topicals should grow over the very long haul as institutions of world government develop in order to take on serious (and possibly existential) problems which can only be coped with globally. Despite the present inadequacy, corruption, and ineffectiveness of the U.N., I view its reform and gradual strengthening as a gradual but irresistible trend.

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Stamp Investment Tip: Lebanon 1938 Medical Congress (Scott #C75-78)

 In 1938, Lebanon issued a set of four airmail stamps honoring the convening of a medical congress (Scott #C75-78). 30,000 sets were issued, and Scott '13 prices the unused set at $ 22.00.

The issue has multiple market appeal among collectors of Lebanon, French Colonies/Possessions, and Medical Topicals.


A nation of 4.2 million people, Lebanon is noted for its commercial enterprise. Over the course of time, emigration has yielded Lebanese "commercial networks" throughout the world. As a result, remittances from Lebanese abroad to family members within the country total $8.2 billion and account for one fifth of the country's economy. The country has the largest proportion of skilled labor among Arab States. The tourism and banking sectors are the the most important pillars of the Lebanese economy, though they have at times been disrupted by political instability. Annual GDP growth has averaged about 4.8% over the last 5 years.

Those interested in learning more about investing in stamps are encouraged to read the Philatelic Investment Guide ($5), available on Kindle, and accessible from any computer.  

          

Stamp Investment Tip: Ecuador 1944 Hospital Surcharge (Scott #B1-6/CB1-5)

   In 1944, Ecuador issued a surcharged compound set of semi-postals and airmail semi-postals to provide funds for the Mendez Hospital (Scott #B1-6/CB1-5). Only 2,500 sets were issued, and Scott '13 prices the unused set at $47.00.

    The set is grossly undervalued, and should do well based upon the growth of interest in Medical Topicals as well as in stamps of Latin America in general and Ecuador in particular.  While I generally recommend obtaining expertization when purchasing scarce overprinted stamps, doing so in unnecessary in the case of this set, because it is inexpensive and not significantly more valuable than the un-surcharged sets that comprise its basic stamps.

   Ecuador, a democratic republic of 13.6 million people, is considered a medium-income country, with about 38% of its population living below the poverty line. Ecuador's natural resources include petroleum, fish, shrimp, timber and gold. In addition, it has a prosperous agricultural sector, producing bananas, flowers, coffee, cacao, sugar, tropical fruits, palm oil, palm hearts, rice, roses, and corn. While Ecuador's economy suffered during the 2008-09 financial crisis, weathering a default and repurchase of its debt at a discount, it seems to be recovering. Annual GDP growth over the last 5 years has averaged 4.5%.

I've begun a new blog, "The Stamp Specialist", which will feature wholesale buy prices for stamps which I am interested in purchasing. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.

Stamp Investment Tip: Costa Rica 1946 Hospital (Scott #C128-40)

In 1946, Costa Rica issued a set of thirteen airmail stamps honoring the Hospital of St. John of God (Scott #C128-40). 15,000 sets were issued, and Scott '13 prices the unused set at $23.15.

Aside from being yet another grossly undervalued Latin American issue, the set doubles as a Medical Topical.

A small nation of 4 1/2 million people, Costa Rica is unique as the only Latin American country to have escaped the plague of repressive dictatorships and oligarchies endemic to the region. Costa Rica has generally enjoyed greater peace and more consistent political stability than many of its fellow Latin American nations. The government offers generous tax exemptions to those investing in the country,and in recent times electronics, pharmaceuticals, financial outsourcing, software development, and ecotourism have become the prime industries in Costa Rica's economy. High levels of education among its residents make the country an attractive investing location. Annual GDP growth has averaged 5.6% over the last 5 years.


I have begun a new blog, "The Stamp Specialist", which will feature my buy prices for stamps which I am interested in purchasing. I've just posted a buy list for Costa Rica, including the set recommended in this article. Viewing dealers' buy lists every now and then is an excellent way to keep current on the vagaries of the stamp market.

Stamp Investment Tip: Bulgaria 1953 Medicinal Flowers Souvenir Sheet (Scott #843a)

In 1953, Bulgaria issued a souvenir sheet picturing Medicinal Flowers (Scott #843a). 50,000 were issued, and Scott '12 prices it unused at $55.00 .

Aside from being an investment in Bulgaria's economic development, the souvenir sheet also appeals to collectors interested in either Flower or Medical topicals. I think it likely that interest in Medical Topicals will trend upward as the number of medical professionals increases.

Since the fall of communism, Bulgaria, with a population of about 7.6 million, has experienced rapid economic growth, although its GDP per capita is only about $13,000, about 40% of the European Union average. It has an industrialized, open free-market economy, with a large, moderately advanced private sector and a number of strategic state-owned enterprises. The World Bank classifies it as an "upper-middle-income economy." Tourism is a steadily growing, and the country also benefits from rich natural resources, a highly educated population and an export-oriented agricultural sector. Annual GDP growth has averaged 2.5% over the last 5 years, reflecting a recent major contraction due to the European debt mess.

Stamp Investment Tip: U.S. Private Die Medicine Stamps

In an earlier article ( "General Commentary: Is There a Doctor in Your Album?" ), I considered the prospects for Medical Topical stamps, given that the number of doctors and nurses in the world is projected to dramatically increase over the coming decades. As it happens, a similar trend applies in the U.S., which will face a shortage of about 150,000 doctors over the next 15 years. Health care reform and aging of the U.S. population are expected to significantly increase the demand for medical services.

From a philatelic investment standpoint, more doctors and nurses means more demand for Medical Topicals, because many Medical Topical collectors are health care professionals. However, most U.S. postage stamps which are Medical Topicals are relatively recent issues which are common and inexpensive, and which probably will not be given much of a boost by the trend.

The stamps that I feel could do well as a result of the trend are not postage stamps at all, but rather tax stamps, known as Private Die Medicine Stamps. These stamps are listed in the Scott U.S. Specialized Catalogue under "Private Die Proprietary Stamps." They came into being in the 1860s as a result of the Revenue Act of 1862, which Congress passed in order to raise money to fight the Civil War. In effect, those selling patent medicines now had to pay a tax on each bottle or container sold. The manufacturers were authorized to design their own dies for the stamps, so the stamps did double duty, serving as ornate advertisements for their products as well as paying the tax. Patent medicines of the 19th century were typically sold by traveling hucksters (sometimes referred to as "snake oil salesmen") as panaceas for all diseases. Many of these potions did provide temporary relief for discomfort, since commonly used ingredients included alcohol, laudanum (an opiate solution), and even cocaine. For the salesman, transforming gullible customers into addicts represented an extremely effective business model, just as it does today.

I have, from time to time, spoken to revenue stamp dealers regarding these stamps, and they have confirmed my hunch that many collectors of Private Die Medicine Stamps are doctors. This is not surprising, since the stamps are fascinating relics of Medical history. Those interested in considering Private Die Medicine stamps as investments should take a look at "An Historical Reference List of the Revenue Stamps of the United States" , which includes printing quantities for many of these stamps. In my opinion, the best strategy would be to focus on those with known printings of 100,000 or fewer (which I've listed in the StampSelector Scarce Stamp Quantities Issued List, under U.S.), especially those that are visually attractive or feature subjects which have topical appeal. Needless to say, the vast majority of most Private Die Medicine stamps were discarded along with the empty bottles of narcotics and sugar water to which they were attached.

As these stamps were stuck to the bottles of "medicine" before they were sold, remaining examples are usually defective, and as noted by Scott, catalog values apply to faulty stamps of reasonable appearance. Sound, well-centered examples often command substantial premiums.

Those interested in learning about investing in stamps should read the Guide to Philatelic Investing ($5), available on Kindle and easily accessible from any computer.   
 

Stamp Investment Tip: Armenia 2003 Neurophysiology Issue (Scott #682)

In 2003, Armenia issued a stamp honoring achievements in Neurophysiology (Scott #682 ). 20,000 of this medical topical stamp were issued (in 2,000 sheets of 10), and Scott '11 prices the unused stamp at $1.10.

For reasons noted in an earlier article, I am bullish on all scarce Medical topicals. The set makes an interesting and very low-risk speculation based both on its topical appeal, and as a bet on the economic growth of Armenia and the development of a stamp market there. This recommendation is consistent with my belief that one of the best ways to play the new and newly resurrected countries of Europe and Asia is to focus on popular topicals with low printings.

Armenia, a nation of about 3.2 million, has made steady economic progress in the face of a number of obstacles, including its legacy of dependence on the Soviet Union as a centrally planned economy, a catastrophic earthquake, and an unresolved conflict with Azerbaijan over the Nagorno-Karabakh region. Major economic sectors include agriculture, chemicals, electronics, machinery, and mining, and new industries, such as precious stone processing and jewellery making, information and communication technology, and even tourism are beginning to develop. The economy is also bolstered by investment and support from 5.7 million Armenians living abroad. Annual GDP growth has averaged just under 7% over the last 5 years.

General Commentary: Is There a Doctor in Your Album? The Prognosis for Medical Topicals

According to a survey done by the American Topical Association, Medical/Nursing-related stamps represent the fourth most popular topical stamp collecting area in the United States. While comparable data for the world as a whole is unavailable, it is likely that Medicine ranks high among the world's most popular collecting topics. As many Medical Topical collectors are in the health profession, there are some powerful catalysts which may bolster interest in Medical Topical stamps. The number of doctors and nurses in the world is expected to increase dramatically as a growing middle class in the developing countries demands better medical care and more doctors and nurses per capita, and global aging accentuates the need.

According to various estimates, there are currently approximately 10-15 million medical doctors in the world - about one for every 450 - 700 inhabitants. However, they are not evenly spread around. For the most part, the number of inhabitants per doctor is lowest in the affluent industrialized countries of the West and Japan, and highest in the least developed countries of Africa, Latin America, and Asia. For North America, Europe, and Japan, the number of inhabitants per doctor generally ranges from about 200-500. For Latin America (with the exceptions of Argentina, Chile, and Cuba), the numbers range from about 500-900; for Asia (with the exceptions of Israel and South Korea on the low side and Afghanistan, Bangladesh, and Nepal on the high side)- about 700-2,200; for Africa- a chaotically wide range from 1,900 to 50,000 inhabitants per doctor, with many Sub-Saharan African countries having tens of thousands inhabitants per doctor.

According to the World Health Organization, there is a global dearth of healthcare workers. The WHO estimates a worldwide deficit of 43 million medical professionals, with the greatest shortage in sub-Saharan Africa, which needs nearly 1 million workers. And while poverty exacerbates the problems for some regions of the world, the root causes of the healthcare-worker shortage—which includes physicians, nurses and researchers—are shared by both rich and poor nations. People are living longer and the need for healthcare is expanding, and even the most affluent countries, which have the highest number of physicians and nurses per capita, are feeling the pinch. In 2006, the American Association of Medical Colleges recommended that medical schools increase their enrollment by 30% to cope with the U.S.' growing shortage of physicians.

From a humanitarian perspective, the global doctor shortage is a serious crisis which needs to be addressed. Nevertheless, it also represents an opportunity for those who are considering investing in better Medical Topical stamps. As the number of health care workers increases, Medical Topical collecting will also get a "shot in the arm."

(Note: StampSelector articles related to Medical Topical collecting may be viewed by clicking on the "Medicine" category in the Search list, and include: Stamp Investment Tip: U.S. Private Die Medicine Stamps, Stamp Investment Tip: Armenia 2003 Neurophysiology Issue (Scott #682), Stamp Investment Tip: New South Wales 1897 Diamond Jubilee Semi-postals (Scott #B1-2).

Stamp Investment Tip: New South Wales 1897 Diamond Jubilee Semi-postals (Scott #B1-2)

In the late 19th Century, before the advent of antibiotics, those infected with tuberculosis were isolated and treated in sanatoria, also called "consumptives' homes." The infected poor were pressured to enter sanatoria that resembled prisons, while consumptives of the middle and upper classes were placed in more comfortable homes which provided excellent care and constant medical attention. Whatever the purported benefits of the fresh air and labor in the sanatoria, even under the best conditions, 50% of those admitted were dead within five years.


In 1897, the Australian State of New South Wales issued a pair of semi-postals in celebration of Queen Victoria's Diamond Jubilee (Scott #B1-2). These attractive, Art Nouveau-style stamps cost 1sh and 2sh6p and had a postal value of 1p and 2 1/2p, and the difference between the cost and postal value was donated to a fund for a home for consumptives. 40,000 of the 1p(1sh) and 10,000 of the 2 1/2p (2sh6p) stamps were issued, and Scott' 10 values the set at $ 362.50 for unused.


These semi-postals are often either poorly centered or have condition problems, so endeavor to purchase the set in sound, Fine or better condition if you run into it. I will continue to focus on better, undervalued stamps of Australia and it states, as their values have nowhere to go but upward. Both the country's economy and its stamp collecting population are set for a multi-decade rise. Furthermore, this set qualifies as a Medicine Topical, and its value should be given an additional boost due to another long-term trend - the increasing demand for doctors and health care professionals.


Australia is a prosperous nation of 22 million people and a diverse economy, with thriving service, agricultural, and mining sectors. Annual GDP growth has averaged 3.6% over the past 15 years. Recently, there has been considerable growth in mining and petroleum extraction, in part due to increased exports to the resource-hungry Chinese market. It is likely that Australia's stamp collecting population will grow significantly as the nation ages. The percentage of Australians over 60 is projected to rise from 16% in 2000 to 24.8% in 2025, and 28.2% in 2050. Many will find playing with their stamps a pleasant diversion while "camped by a billabong, under the shade of a coolibah tree."